The rally in memecoins suggests that the Fed is not tight enough.
And yet because public debt is so high, raising rates increases the fiscal deficit (which is stimulatory) faster than it reduces private credit creation, which mutes the tightening effect.
#FiscalDominance
@philc411 I think it will be less volatile both ways. Money mangers will continually rebalance toward their targeted allocations. So if bitcoin dumps, they buy more to get back to target, and vice versa.
@FossGregfoss@DavidFBailey@BitcoinMagazine Foss - youโve helped me learn so much about bitcoin and macro. Was literally thinking the other day that i havenโt seen anything from you in a while. Hope you get the help you need ๐